I just got a 2000 AU and the CD player doesnt work properly. I will take the CD, look like it reading it, then spit it out. Radio works fine
Any ideas?
Or do I have to fork out a chunk to take it to the nearest dealership?

It is a normal occurrence for AU CD players. The best thing is to contact these people http://www.aslautomedia.com.au/repairs-exchanges/ford/
These people are the ones that are the official repairers for Ford Audio. Might pay you to chat with them and see what they can offer you rather than going all over the place trying to get an answer that will more than likely be wrong.
I had an AUIII with a bad CD player and was able to get a reco unit from ASL for $200.00 approx? but that was 3 odd years ago, give them a cal anyway.